If you’ve tried to buy a car lately, you’ve probably noticed that prices are up and cars are being bought in hours. That’s great for sellers, but it’s a challenge for regular consumers. The current pandemic has generated a vehicle shortage, making it harder to find a reliable ride. Here’s what you need to know about the shortage, how it puts you at risk of buying a lemon, and how to avoid it.
The Pandemic-Fueled Vehicle Shortage
At first glance, it may seem odd that the pandemic led to a car shortage. After all, the number of people commuting to work dropped dramatically. However, the cause of the shortage wasn’t initially based on people buying cars. It actually stems from people buying computers.
When the pandemic began, many people unexpectedly found themselves working, learning, and socializing from their computer screens. As a result, people started buying new laptops, desktops, phones, tablets, and gaming consoles at a dramatic rate. They purchased these devices so quickly, in fact, that the world’s supply of silicon computer chips was essentially used up.
On top of that, most factories where these chips are made are in China, which performed some of the strictest lockdowns. Production of computer chips slowed dramatically for a while. Once these factories were back up to full speed, however, the demand for the chips had already outpaced supply significantly. As a result, a computer chip shortage began.
So what does that have to do with cars? Well, most modern cars rely on computer chips. New cars use these chips to run their in-car navigation systems, perform tasks like collision avoidance, and even connect to the internet. Without the proper computer chips, manufacturers can’t complete their cars.
That’s led to a shortage of new cars. People who would typically buy a brand-new vehicle this year are instead buying slightly used models, and the people who would buy slightly used are forced to look at older models. This effect cascades all the way through the vehicle market, and prices on all cars have shot up. Cars are often selling before they’ve been on the lot for three days.
That means consumers like you are at a higher risk of buying a lemon than average. The pressure you feel to purchase the first vehicle that’s still available can lead you to not do your research. If you don’t do your homework, you can find you’ve bought a lemon that will cost thousands to fix. Here’s how to avoid that.
Tips for Buying a Reliable Car
Just because there’s a lot of demand for cars right now doesn’t mean you’re doomed to buy a lemon. You just need to do your due diligence before you make a purchase. By following these four tips, you can get a car that’s reliable, safe, and not subject to recalls.
1. Think twice about cars that have been for sale for weeks or months
Vehicles are flying off dealership lots right now. Any car that seems reasonably safe and reasonably priced has an on-lot lifespan of a week or less. If you’re considering buying a car, think twice about any vehicle that’s been available for sale for more than a few weeks. There’s probably a reason it’s still available.
If you’re in love with a potential car, but it seems too good to be true, it probably is. Try to figure out why it’s still available. Some cars may just be ugly or unpopular, but it’s more likely that something expensive is broken. You can check out these cars, but you need to be particularly careful when you’re test-driving and researching them.
2. Do your research on the make and model
Lemons are cars that have been manufactured incorrectly. These cars have hidden flaws that make them dangerous. Most vehicle manufacturers produce lemons occasionally, but some makes and models are more prone to these kinds of problems. If you find a good-looking car, research the make and model to see how reliable other people have found it. If it comes up in a list of recalls, then you should probably pass.
3. Get the full history report on potential purchases
Providers like CarFax will give you the entire service history of a vehicle if you provide its VIN. Some dealerships will give you the CarFax for free, but not all. If you’re concerned about buying a lemon, make sure you read the CarFax thoroughly. Look for regular oil changes and maintenance. That’s a sign the vehicle is well cared for. You should also watch out for cars that have been in accidents since these cars can have hidden faults.
4. Always test drive the car
Some dealerships will deliver a car right to your door if you choose to buy it online. That’s an awful idea if you want a vehicle that’s safe and reliable. Make sure you check it out in person. You’ll be able to test the steering, the suspensions, the tires, and everything else that makes the car run. Test drives are crucial to judging whether a vehicle is a good purchase.
5. Take the car to a mechanic
Finally, if you can, schedule a test drive and then take the vehicle to a trusted mechanic. Many mechanics will perform pre-purchase inspections for a low cost. They’ll let you know whether the car is safe and how much any repairs will cost. If you’re trying to make a good purchase, it’s worth asking an expert.
You Deserve a Car That’s Safe
If you’re on the market for a vehicle, you need to be ready to do your research. Go into the process with a plan and with data about each potential car. Knowledge is power, and it can help you avoid wasting time on something that’s not safe.
If you’ve already bought a car and found out it’s a lemon, you still deserve a safe ride. Reach out to a qualified lemon law attorney to discuss your options. You may be able to get your vehicle fixed or replaced. Get the process started today by scheduling your consultation.
